TAX PLANNING AND CONSULTING
TAX PLANNING AND CONSULTING TAX 6845
University of Central Florida
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This 1 page Class Notes was uploaded by Bridie Bradtke on Thursday October 22, 2015. The Class Notes belongs to TAX 6845 at University of Central Florida taught by Charles Kelliher in Fall. Since its upload, it has received 32 views. For similar materials see /class/227553/tax-6845-university-of-central-florida in Taxation at University of Central Florida.
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Date Created: 10/22/15
I Topic The atrisk rules During 2009 Jim invests 10000 in a partnership and receives a 40 interest The partnership then borrows 400000 on a nonrecourse basis The partnership buys and leases equipment Jim materially participates in the business During the first year the rental revenue is 70000 depreciation is 40000 interest expense is 35000 and other expenses are 25000 Required How much of the loss can Jim deduct in 2009 How much is suspended under the atrisk limitations
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